If the substitution effect of wage increases is greater than the income effect, then the individual labor supply curve is positively sloped in the short run.
Answer the following statement true (T) or false (F)
True
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For a given level of inflation, if there is a greater reluctance by foreigners to purchase domestic goods, then the ________ shifts ________.
A. short-run aggregate supply line; downward B. aggregate demand curve; right C. short-run aggregate supply line; upward D. aggregate demand curve; left
Most states do
A. not collect any corporate income taxes. B. have corporate income taxes. C. not recognize entities known as corporations. D. none of these answer options are correct.
What immediate consequence does an increase in education time have in the endogenous growth model with human capital?
A) lower output B) lower output in the future C) lower wages D) lower human capital
If bargaining is costless, the assignment of property rights for an externality
a. has no impact on the possibility of an efficient outcome and no distributional impact. b. has no impact on the possibility of an efficient outcome but does have a distributional impact. c. does have an impact on the possibility of an efficient outcome but has no distributional impact. d. does have an impact on the possibility of an efficient outcome and does have a distributional impact.